... DOWNWARD from the peek of a Spring and/or Up Thrust on each Gun that makes it to Loading and Firing then Dumps into Consolidation.
It's during that consolidation I'm referring to. Look at the Text Bubble within the chart to explain why I'm placing the 100% Re-tracement back to Preliminary Support Two Guns Down for better accuracy. I know it breaks fib protocol. Maybe... I just found a pattern and sticking to it for now to see how it works in this particular situation with Bitcoin. [I will copy and paste in comments...]
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Close Up of the First LG in 2015 with FIB re-tracement placement of the 100% on the way back down. Gets close to 61.8 retrace.
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The FIB Re-Tracement for the Consolidation move and Dump on the BitFinex Hack after a Spring and/or Upthrust:
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Current Re-Tracement:
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ALL COMMENTS SHOULD BE EASIER TO READ IN TEXT BUBBLES NOW:
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Previous FIB's were shown with Heikin-Ashi Candles;
Now have a look at Regular Candles... No not much difference on the 2 Day TF:
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REGULAR CANDLES CLOSE UP 2D TF of Fib Re-Tracement DOWN to 100% to see more accurate results on the re-tracement for 0.236, 0.382, 0.618; First Loaded Gun (LG) that began in 2015.
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REGULAR CANDLES CLOSE UP 2D TF of Fib Re-Tracement DOWN to 100% to see more accurate results on the re-tracement for 0.236, 0.382, 0.618; 2nd and 3rd LG.
[Killing 2 birds with 1 stone here:
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Pulled back on the first FIB Re-Tracement for the first LG in 2015. Wanted to show where I had the Preliminary Support Line for 100% re-tracement on the that first LG re-tracement in the BULL TREND REVERSAL from the Wyckoff Cycle to a Spring began.
Determining PS Support line for the first Re-tracement was difficult. That would be hard for anyone to do on the first one. All the other ones are consistent with accuracy on 0.618 if 100% is placed at consistent location.
This is Regular Candles still but on the Daily... The AQUA colored line marks PS Support for what would be equivalent to two guns down from the current gun re-tracdement.
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Again those first ones were difficult. However, you will see where I place the PS location for the others; which are at the very top of a move (wick) on the beginning of the formation of the top of a gun.
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More Preliminary Support locations at TOP of move (wick) where guns are first TRANSITION INTO LOADING [From "G" Status (unloaded; still forming) to "LG" Status (Getting Loaded and ready to fire).].
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Those locations are where I'm saying we will bring 100% re-tracement back to for the 0.618 to be more accurate on the re-tracement.
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This is a VERY IMPORTANT NOT.... MUST BE IN LOG SCALE PROBABLY.... HAVEN"T TRIED THE OTHER WAY...